Hotel performance in 2026 is being driven by room rates rather than occupancy: an 18-week US RevPAR streak, Hilton's raised outlook and a 21% jump in brand values.
Cover image: Waterfront Hilton hotel tower at a US city bayfront — photo by Bernard Gagnon, CC BY-SA 3.0, via Wikimedia Commons.
The hotel industry's 2026 story is one of rate-led growth. In the United States, CoStar's weekly data showed revenue per available room (RevPAR) rising for 18 consecutive weeks through mid-August, with average daily rate (ADR) doing more of the work than occupancy. Gains cluster around conferences, concerts and FIFA World Cup matches, while markets such as Las Vegas, Miami and Nashville posted declines in individual weeks.
The large brands are reporting the same pattern. Hilton posted 3.9% systemwide RevPAR growth in the second quarter and raised its full-year outlook to 3–3.5%, led by business transient demand and the World Cup, although the Middle East and Africa fell sharply and the fourth quarter faces election-related headwinds.
Investors and brand valuers are pricing in that strength. Brand Finance's Hotels 50 2026 ranking put the 50 most valuable hotel brands at $69.8 billion, up 21%, with Hilton first for an 11th year. The common thread is pricing power, concentrated in luxury, group and event-driven demand.
Last updated: 23 September 2026
US hotel RevPAR: how long is the 2026 growth streak?
For the week ending 15 August 2026, CoStar reported US occupancy of 68%, up 2.6% year on year, ADR up 3.5% to $163.56 and RevPAR up 6.2% to $111.29. That was the 18th straight week of positive year-on-year RevPAR comparisons, a run going back to mid-April.
| Week ending | Occupancy | ADR | RevPAR | RevPAR YoY |
|---|---|---|---|---|
| 1 Aug 2026 | 71.3% (+2.6%) | $168.82 (+4.5%) | $120.45 | +7.3% |
| 8 Aug 2026 | 70.0% (+3.0%) | $166.85 (+4.1%) | $116.77 | +7.2% |
| 15 Aug 2026 | 68.0% (+2.6%) | $163.56 (+3.5%) | $111.29 | +6.2% |
Event markets drove the peaks. In the week ending 15 August, San Diego ADR rose 12.6% to $249.71 and RevPAR 22.8% to $201.10 on the LPL Focus 2026 conference and stadium concerts. Philadelphia RevPAR rose 32.1% in the week ending 1 August on two Morgan Wallen concerts. Las Vegas RevPAR fell 17.1% to $96.63 that same week, and Miami (RevPAR −8.5%) and Nashville (ADR −4.1%) declined in the week ending 8 August.
In June, CoStar and Tourism Economics upgraded their full-year US forecast to 2.8% RevPAR growth on 2% ADR growth and 62.8% occupancy, with luxury hotels leading at 5.3%. Summer weeks have run well ahead of that. For the week ending 5 September 2026, CoStar reported RevPAR up 16.1% year on year to $100.31, a figure it said was inflated partly by a shift in the Labor Day calendar. For how rates respond to compression nights, see our explainer on how hotel room pricing works.
Hilton Q2 2026 results and raised RevPAR forecast
On 28 July 2026 Hilton reported systemwide comparable RevPAR growth of 3.9% for the second quarter, net income of $482 million, adjusted EBITDA of $1.054 billion (from $1.008 billion) and adjusted EPS of $2.29 on revenue of $3.34 billion. Business transient RevPAR rose 5.7%, group 3.7% and leisure transient 1.6%.
Full-year RevPAR guidance rose to 3–3.5% (from 2–3%), adjusted EPS guidance to $8.89–$9.01 and adjusted EBITDA to $4.04–$4.08 billion. Management guided to about 4% RevPAR growth in the third quarter on World Cup demand, but flagged fourth-quarter headwinds from the US midterm elections. Third-quarter EPS guidance of $2.28–$2.34 was below the $2.42 consensus, and the shares fell 3.4% on the day.
| Region | Q2 2026 comparable RevPAR |
|---|---|
| United States | +5.4% |
| Americas ex-US | +4.6% |
| Europe | +4.3% |
| Asia Pacific ex-China | +6.3% |
| China | −2.2% |
| Middle East & Africa | about −30% |
Hilton opened 207 hotels with 24,100 rooms in the quarter and its pipeline reached a record 3,853 hotels and 541,300 rooms across 132 countries, part of the wider supply build-up covered in our review of the global hotel construction pipeline in 2026. The Middle East conflict is expected to cost more than $20 million of full-year adjusted EBITDA.
Most valuable hotel brands in 2026: the Brand Finance ranking
Brand Finance's Hotels 50 2026 report, published on 23 July 2026, valued the top 50 hotel brands at $69.8 billion, up 21% from $57.8 billion. Hilton Hotels & Resorts ranked first for the 11th consecutive year, its value up 28% to $19.2 billion.
| Rank | Brand | Brand value 2026 | Change |
|---|---|---|---|
| 1 | Hilton Hotels & Resorts | $19.2bn | +28% |
| 2 | Hyatt | $7.5bn | −6% |
| 3 | Marriott | $4.6bn | +23% |
| 4 | Holiday Inn | $4.3bn | not published |
| 5 | Hampton Inn | $3.4bn | +9% |
| 6 | Shangri-La | $1.6bn | +3% |
| 7 | Sheraton | $1.4bn | +15% |
| 8 | Scandic Hotels | $1.4bn | +49% |
| 9 | Courtyard by Marriott | $1.4bn | +12% |
| 10 | Premier Inn | $1.3bn | +27% |
Vietnam's Vinpearl was the fastest riser, up 86% to $381 million, and was rated the strongest hotel brand with a Brand Strength Index score of 95.4. Delta Hotels & Resorts rose 79% to $476 million. Taj scored 93.5 and was named the strongest luxury hotel brand, with its value up 32% to $878 million. Hotel Shilla climbed to 21st, the only Korean brand in the top 50.
Brand Finance values brands by the royalty relief method: what a company would pay to license its own name. That favours asset-light, franchise-heavy flags, and loyalty scale such as Marriott Bonvoy's 271 million members feeds into brand strength; see our comparison of hotel loyalty programmes in 2026.
Frequently asked questions
How long has US hotel RevPAR been growing in 2026?
CoStar's weekly data showed 18 consecutive weeks of year-on-year RevPAR growth through the week ending 15 August 2026, a run stretching back to mid-April. Weekly gains were 7.3% (week ending 1 August), 7.2% (8 August) and 6.2% (15 August), with rate contributing more than occupancy.
What is Hilton's RevPAR guidance for 2026?
On 28 July 2026 Hilton raised its full-year systemwide RevPAR growth guidance to 3–3.5%, from 2–3%. It expected roughly 4% growth in the third quarter on World Cup demand, but flagged fourth-quarter headwinds from the US midterm elections and an unfavourable calendar.
What is the most valuable hotel brand in 2026?
Hilton Hotels & Resorts, valued at $19.2 billion by Brand Finance's Hotels 50 2026 report (up 28%), the eleventh consecutive year it has topped the ranking. Hyatt is second at $7.5 billion and Marriott third at $4.6 billion.
Are hotel prices rising for every type of hotel?
No. CoStar and Tourism Economics forecast luxury hotels to lead 2026 with RevPAR up 5.3%, nearly double the projected 2.8% US average, while budget-tier hotels that depend on price-sensitive domestic travellers are expected to grow much more slowly.
Sources
- Hotel News Resource — U.S. Hotel Occupancy, Rates and RevPAR Rise for 18th Straight Week
- Hospitality Net — U.S. hotel results for week ending 8 August
- Hospitality Net — U.S. hotel results for week ending 1 August
- Hotel Dive — CoStar, Tourism Economics upgrade US RevPAR forecast for 2026
- Asian Hospitality — CoStar: Metrics post mixed weekly, up YoY
- Hotel Business — Hilton reports 3.9% RevPAR growth in Q2
- Proactive Investors — Hilton sees World Cup boost but shares fall on soft guidance
- Yahoo Finance — Hilton Worldwide Q2 earnings call highlights
- Benzinga — Hilton raises 2026 outlook but soft Q3 guidance weighs on shares
- Brand Finance — Hilton Hotels & Resorts checks in as the world's most valuable hotel brand for 11 consecutive years
- Hotel News Resource — Global Hotel Brand Values Rise 21% as Hilton Retains Top Position
- PR Newswire — Hotel Shilla Rises to 21st on Brand Finance's Global Hotel Brand Ranking
- Hospitality Net — Hilton tops luxury hotels by brand value, Taj retains crown as strongest luxury hotel brand
